“While trust accounting is the core of the product, there are certainly many other ways Palace improves daily workflow. By focusing on these, we can enable property managers to pursue their passion, be successful and do great work,” the CEO said.

Some of the functions to be announced include faster bank reconciliation, custom reporting, in-built bar code scanning and great insights into portfolios.

To help launch Palace to the Australian market, Jonathon Stone has been brought on as country operations manager.

Mr Stone has previously worked with well-known property software providers and said that he was thrilled to join a dominating team.

“Palace has achieved absolute market dominance in New Zealand, achieving 75 per cent market share, and with a long track record of success, they offer the most advanced solution for property managers,” Mr Stone said.

Mr Stone said that the time was right for Palace to enter the market as the company observed a gap in property management software available.

"With other software vendors facing challenges in deploying and supporting products this has allowed us the opportunity to offer another choice when it comes to software solutions.

"This is one of the many reasons why Palace has chosen to launch now so we can provide a more superior product choice to the market place and provide the consumer what they need," he said.

Mr Stone will oversee all areas of the client solution delivery throughout APAC and will continue to drive growth for the company.